The Council for Responsible Jewellery Practices (CRJP) has released today its Final Version of its Code of Practices. The 18-page document is the culmination of a worldwide consultation with stakeholders and many meetings by the CRJP... Read More...

The drawn-out lack of clarity and the clouds of uncertainties over South Africa’s diamond industry are beginning to pay their toll. This is visible on three levels: De Beers, the industry, and the government. Diamond factories are reducing output – there are early signs of closures. Read More...

“Why the hell should we finance DTC Sight boxes, which we know to be overpriced and are causing losses to our clients?” fumed a diamond banker from his holiday resort somewhere on the Mediterranean coast. “That’s irrational behavior on our part. The time has come to put a stop to it. It is irresponsible from a banking risk perspective to make facilities available for the... Read More...

The form and contents of the proposed GIA certificate on synthetic diamonds was a hotly debated issue at this week’s GIA Symposium in San Diego. The discussion squarely reflects perceived economic interests – and even though every side likes to talk about “protecting consumer confidence”, none of the speakers had done any serious research on what  the... Read More...

A leading industry player has made serious allegation of a possible illegal anti-trust violation in respect to certain dynamics surrounding the development of nomenclatures to be used for gemological grading reports for synthetics diamonds. That warrants a major news story. My staff and myself worked a few days around the clock to get all the facts, cover all the angles, get the necessary historical... Read More...

Summer holidays are a great time to catch up on one’s reading. Picking only materials by perennial optimistic and good humored authors, I selected some of the recent reviews by my colleague Ken Gassman. Earlier this month he reported good news for jewelers who target the bridal market. “Gold wedding band sales have been stable since 1993, when... Read More...

Within two years there will be some 15 diamond factories in Botswana, employing some 3,000-5,000 workers – if not more. The government’s policy of “beneficiation of the diamond resource” aims at going downstream: processing as much as possible of the raw materials domestically, moving from sorting to manufacturing and jewelry production. De Beers and the government have identified... Read More...

In the first half of 2006, the DTC sold some $3.252 billion worth of rough diamonds, which is barely one percent more than its sales in the first half of 2005; this is in spite of a 3.3 percent higher average level of prices over the comparable period last year. Diamdel failed to sell all the goods it “bought” from the DTC and is facing a build-up in stock (which is believed to equal some... Read More...

“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.” This was the historical wisdom of Mark Twain. Twain has been dead for almost a century, but many – or at least some of us – are still convinced that Twain succinctly, accurately, and almost like a visionary, pictured the essence of a “banker” in one simple sentence. Read More...

The Botswana government is repeatedly asked whether it will sell its 15 percent shareholding stake in De Beers. Anyone closely following the governmental strategies towards diamond mining and diversification will come to the inevitable conclusion that Botswana will sell – and... Read More...